26 yr Old Single Lad just Bankrupt (panic stations or Not?!_

richyorks

Hello All.

I am just a new guy on the scene of being bankrupt. I encured debts of about £35k afer a long distance relationship. I currently live with parents, and this is the main reason why bankruptsy was the best option.

I went to Sheffield Counrty court and everythign went as planned. I didnt even see a judge, because all of them were having a morning meeting.
I was really worried thinking that my bankruptsy would not be accepted. Anyway.. good news is that I was accepted.

Later that day I recived a call from the insolvancy service. Just stating that it could be another 2 weeks until I get a letter, arranging my interview. However it was 2 weeks later I got the letter.
I recived this on Friday 28th August. The letter was stated the 25th August! They wanted all my documentation in the post and recived on their desks by the 2nd September! Plus they booked me a telephone interview on the 3rd September. I certainly cant do that, becuase I have work commitments. The earliest date would be a week later!!... Would this be ok you think?? I am really panicing becuase;

I dont have all my statementrs, as some were shreded!!

Should I photocopy my pension policies? or forward originals??

What are they going to think after looking through my statements!?!?!?
I know its going to be bad, because I was in a long distance relationship.

Is it true that they will take up to three quarters of my wage??

I am going to give the insolvancy service a call tomorrow.


Your thoughts please.

Cheers
Rich

So_Sad_Angel

Hi Rich....first of all , please calm down Honey !!

There will be a number on that letter so give them a call in the morning & explain as you have done here. The OR can retieve missing info directly from the Banks anyway but obviously if you have them it makes life easier.

I dont know about the pension doc`s so ask that too.

There is nothing that they will not have seen before...you will just need to explain the reasons. The OR is not an ogre...they are only doing a job.

There is little point worrying as what is done is done & now you have to get this sorted & move on.

Angiexx

ps...I used to work in Rotherham...:D:D

richyorks

Thanks Angie.. I think its because its been the Bank Holiday weekend and I have been stewing over it maybe?!

Yea I live nr Rotherham. You are not missing much . I work in Leeds so it dosnt help the situation haha..

I am such a stress head.. I think I needs a holiday afrer this lol

Rich x

fiveyearplan

Hi rich. I agree with SSA - phone them tomorrow and explain you only just got the letter, can you please postpone.

richyorks

Will they be ok to delay for a week? Or is that usually too long? I will get the info to them much ealier.. I am sending the statements by special delivery.. should I trust the free post thing?!

serenity34_2

And no it's unlikely that they can take 75% of your wage. What they look at is your income MINUS your essential outgoings. If they perceive that you have a surplus income they will usually look to take 50-70% of the SURPLUS via an Income Payment Order or Income Payment Arrangement ( IPO/IPA ). Can I ask if you took advice from anyone before going bankrupt as I'm a little worried that you seem unaware of some of the basics! Not a criticism at all but it's a big step to take so always best to go into it with your eyes open. And remember a friend's experience of bankruptcy may be totally diferent to your own.

Do you run a car or have any other assets?

richyorks

I do have a car. Its worth about £2000.. Iam guessing I will be fine with it...
I have taken advice from Payplan, and CCCS but they just told me the options without going into great detail. My family have been very suportive indeed.

I guess I just need to chil out for abit..

Sorry guys

So_Sad_Angel

richyorks wrote: »

Will they be ok to delay for a week? Or is that usually too long? I will get the info to them much ealier.. I am sending the statements by special delivery.. should I trust the free post thing?!

Which OR are you dealing with? Sometimes Sheffield defer to Leeds OR. I would call....they will appreciate work commitments...its not unusual & a week delay is not long.

If you can`t drop documents off I`d be tempted to do recorded delivery...at least they will have to sign for them then.

Try & chill out....worrying won`t change a thing.

Angiex

So_Sad_Angel

richyorks wrote: »

.. I think I needs a holiday afrer this lol

Rich x

LOL....maybe not something to mention to the OR...kiddin !!!:D:D

richyorks

I am dealing with the Sheffield office.. I have their contact details anyway.
I will update you all 2moz about it

I will say night night for now.. back to sunny Leeds 2moz! (only for 4 days though yippee):j

Rich

dane-katie

Congrats on the bankruptcy, i went bankrupt in Sheffield too

My OR was great a really nice woman, was firm but got the job done.

I also live near Rotherham too, i was 23 when i went bankrupt, it was last year was discharged 6 n half months later, dont panic too much they are really good in Sheffield-well they was with me